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LAKE BARRINGTON, IL--(Marketwired - Aug 12, 2013) - CTI Industries Corporation (NASDAQ: CTIB), a manufacturer and marketer of flexible packaging and storage products, laminated films and novelty balloons, today announced its results of operations for the second quarter of 2013 and for the six month period ended June 30, 2013.

Sales for the second quarter were up 10.3% over second quarter 2012, led by an increase in revenues in the vacuum sealer line of 84% compared to the second quarter last year.

"Sales for the second quarter were strong in our principal product lines, but sales in the vacuum sealer product line soared," reported Stephen Merrick, President. "We have hit our stride in the vacuum sealer line, which is now offered for sale in almost 6,000 retail outlets throughout the United States, and we are pushing for considerably further expansion of our outlets and sales in this line," he said.

Consolidated net sales for the second quarter of 2013 were $13,034,000 compared to consolidated net sales of $11,816,000 for the second quarter of 2012, an increase of 10.3%. The Company had a net loss of $56,000 or $0.02 per share (basic and diluted) for the second quarter of 2013 compared to a net loss of $78,000 or $0.02 per share (basic and diluted) for the second quarter of 2012.

For the six month period ended June 30, 2013, consolidated net sales were $26,379,000 compared to $25,624,000 for the same period in 2012, an increase of 2.9%. For this six month period in 2013, net income was $74,000 or $0.02 per share (basic and diluted) compared to net income of $311,000, or $0.10 per share (basic and diluted) for the same period of 2012.

"We had income from operations in the second quarter this year of $291,000 compared to $13,000 for the same period last year," reported Mr. Merrick, "but our net income this quarter was affected by several charges including (i) a one-time rebate cost of $93,000, (ii) interest expense of $206,000 and (iii) foreign currency exchange loss of $171,000."

Key Factors and Trends

Sales were strong in all of our principal product lines, particularly in the vacuum sealer product line. Sales of in the vacuum sealer product line, including vacuum sealing machines, pouches and rolls, increased by 84% from $1,682,000 the second quarter of 2012 to $3,093,000 for the second quarter this year. For the six months ended June 30, 2013, sales in this line increased by 39% from $3,612,000 last year to $5,021,000 this year.

For the quarter, latex balloon sales increased by 5.9% from $2,837,000 in the second quarter last year to $3,005,000 in the second quarter this year. For foil balloons, sales in the second quarter this year were $5,560,000 compared to $5,513,000 in the second quarter last year.